Property Overview & Appeal
This one-and-three-quarter storey home, built in 1882, is a character property on a notably spacious lot in Winnipeg's Centennial neighbourhood. Its key characteristics include a renovated basement, detached garage, and over 4,300 square feet of land, which is well above average for both the immediate street and the wider area. The living space of just over 1,000 square feet is modest but in line with nearby homes. The appeal lies in its rare combination of a large, private yard in an established inner-city neighbourhood and the preserved heritage of a pre-1900 build. It suits a buyer looking for a project or a downsizer seeking land over square footage—someone who values outdoor space and historic charm more than modern size and finishes. A thoughtful perspective is that the very low assessed value, while indicating affordability, also suggests the property is assessed primarily for its land, hinting at a home that may require ongoing updates or a vision to realize its full potential.
Frequently Asked Questions
1. What does the very low assessed value indicate?
It primarily reflects a municipal assessment that values the land significantly over the century-old structure. It suggests lower property taxes but is not a direct market valuation.
2. Is the renovated basement a finished living space?
The listing confirms a renovated basement, but specifics on finish quality, ceiling height, or legal suitability as living space should be verified with the seller or an inspection.
3. What are the implications of a home built in 1882?
It offers unique character but requires careful attention to aging components like wiring, plumbing, and insulation. It may also be subject to heritage considerations or guidelines.
4. How does the large lot size benefit a buyer?
Beyond privacy and garden space, it offers long-term flexibility for additions, landscaping projects, or even potential subdivision, subject to city zoning bylaws.
5. Why is the sale price from 2020 so close to the current assessed value?
The 2020 sale likely set the current assessment benchmark. In a stable market for unique, land-value properties, the assessed value can closely track a recent sale price.